Conoco executive says Australia may become top LNG source

RossKelly

DARWIN (MarketWatch) -- The head of ConocoPhillips'
COP, -1.58%
Australian unit said Thursday that Australia could become the world's biggest exporter of liquefied natural gas, or LNG, by 2020.

ConocoPhillips Australia President Joseph Marushack also said that a final investment decision is still expected to be made for its Gladstone LNG joint venture with Origin Energy Ltd. (ORG.AU) by the end of 2010, with first gas to be shipped in 2014.

"Australia is ideally positioned to become a really dominant supplier," Marushack told an oil and gas conference.

"Today's it's the world's sixth largest supplier. In 10 years it could rank second, maybe first."

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